Global Infrastructure SherpaSK Group & KKR form JV to consolidate renewable energy businesses
SK Group and KKR are forming a 50-50 joint venture to integrate SK Group's renewable energy units, aiming to eliminate inefficiencies and create synergies. As part of the deal, SK Group will sell KKR a 31% stake in SK Eternix. The joint venture will consolidate renewable energy businesses from SK Innovation, SK Ecoplant, and SK Discovery. The move is driven by the expanding global renewable energy market and the need for large-scale capital to fund projects like offshore wind power.
Get daily solar deal alerts — free, no spam.
Counterparts (6)
Seller
SK Innovation
SK Group is a South Korean conglomerate with interests in chemicals, energy, and telecommunications. The company's website highlights SK's news, affiliates, career opportunities, and social value initiatives.
SK Ecoplant
SK ecoplant focuses on hi-tech solutions, green energy, and environmental platforms. They are involved in semiconductor services, renewable energy solutions, waste recycling, and water treatment.
SK Discovery
SK discovery is a global holding company focused on future business, managing business portfolios and developing innovative growth engines. They aim to create value through ethical management.
Partner
Kohlberg Kravis Roberts (KKR)
KKR is a leading global investment firm that invests across private markets in every asset class all over the world. Their mission is to fortify companies and communities and help secure the futures of the institutions and individuals counting on them.
SK Group
SK Group is a South Korean conglomerate with interests in chemicals, energy, and telecommunications. The company's website highlights its news, affiliates, and social value programs.
Sign up free to access full counterpart details, deal analysis, and timeline.
Sign up free →Deal Analysis
SK Group and KKR's formation of a 50-50 joint venture to consolidate SK Group's renewable energy assets represents a significant strategic move to capitalize on the expanding global renewable energy market. The deal involves SK Group selling a 31% stake in SK Eternix to KKR, with the joint venture consolidating renewable energy businesses from SK Innovation, SK Ecoplant, and SK Discovery. This consolidation aims to eliminate inefficiencies, create synergies, and provide the necessary large-scale capital for funding projects, particularly in areas like offshore wind power.
The joint venture allows SK Group to leverage KKR's financial expertise and global network to accelerate the growth of its renewable energy portfolio. For KKR, this partnership provides access to a diversified portfolio of renewable energy assets in South Korea, a key market in the Asia Pacific region. The deal underscores the increasing trend of strategic partnerships between industrial conglomerates and private equity firms to drive growth in the renewable energy sector.
- 50-50 joint venture between SK Group and KKR to consolidate renewable energy businesses.
- SK Group sells a 31% stake in SK Eternix to KKR as part of the deal.
- Consolidation includes renewable energy businesses from SK Innovation, SK Ecoplant, and SK Discovery.
- Driven by the need for large-scale capital to fund renewable energy projects like offshore wind.
Timeline
Announced
Feb 13, 2026
Signed
Closed
Get the full picture — timeline, source intelligence, and counterpart analysis.
Sign up free →